EEDA - East of England Development Agency

Preparation is the key to exporting success

2 March 2009

“Do your homework in advance.” BizGrowthEast online forum reveals top tips for trading abroad.

“Do your homework in advance,” was the top tip given to companies looking to expand into export markets, during an online forum recently conducted for participants in BizGrowthEast (BGE), a campaign for entrepreneurs in the East of England.

The East of England Development Agency’s (EEDA) BGE campaign connects entrepreneurs to all the support, funding and advice on offer in the region from EEDA and its partners.  The forum was hosted by ‘captive’ expert Anton Rudgalvis, senior international trade advisor at East of England International (EEI).

Anton said: “Export can offer a real sales opportunity right now given current exchange rates which are highly favourable for UK companies looking to trade aboard.  However, it is vital to undertake market research to ensure that you are selling the right product in the right market as this can save you time, money and effort.“

The export opportunity is reinforced by new figures recently released by HM Revenue & Customs (HMRC) proving that some companies are exporting their way out of recession; the number of companies exporting from the UK in Q3 of 2008 rose by 2.5 per cent from the same period the previous year.  The East of England has seen the largest rise in exports of any region over this period showing an increase of 5.7 per cent with 5,664 companies now exporting from the region.

 

Top tips

Following on from the forum, Anton offers some top tips to local companies looking at exporting:-

• Be prepared.  Do your market research on your location of choice and how business is conducted in that country.   
• Take advantage of all the help on offer.  For example, UKTI offers inexperienced exporters free capability assessments, support in visiting potential markets, mentoring from a local export professional, free action plans, customised and subsidised training, and ongoing support through its Passport to Export programme.
• There is also help and advice from a number of partner organisations such as Business Link, the Chambers of Commerce and, for those looking to do business in China, the China-Britain Business Council (CBBC).
• Be strategic.  Make sure your approach is well-planned and integrated with your other business objectives. 
• Don’t be put off.  There is the perception that exporting is difficult, but providing you talk to the right people who have prior knowledge of the main obstacles and get the strategy right, this need not be the case.  Support is available throughout your exporting journey.
• Learn a few words in the local language and make an effort.  Using properly translated leaflets and web pages in selected languages for your target markets will help your potential clients understand what product or service is offered and will make it easier for companies to do business with you.  Certainly if companies exhibit abroad, it is an excellent idea to have foreign language speakers to assist.

There is a huge amount of support available locally to help all companies who are either new to export or are already exporting.  For any questions you might have, simply pick up the phone and call the EEI Customer Services team on 08456 419955, email trade@eeia.com or visit: www.eei-online.com.

For more information on the campaign or to register visit: www.bizgrowtheast.com.